Skidmore Development Group and SouthPac Partners have acquired Cinnaroll Bakeries, a maker of cinnamon rolls and related products.
Cinnaroll Bakeries owns and operates a 35,000 sq. ft. wholesale bakery facility that produces fresh and frozen cinnamon rolls, snacks and twists that are sold to the grocery store, convenience store, fundraising, and food-service industries throughout North America. The company also operates 72 owned and franchised CinnZeo stores that sell fresh baked, oven hot, cinnamon rolls.
The company’s stores are based in shopping malls and other high traffic retail locations in Canada, Mexico and the Middle East. Cinnaroll Bakeries was founded in 1987 and is headquartered in Calgary (www.bakerboys.net) (www.cinnaroll.com) (www.cinnzeo.com).
Skidmore Development Group invests in profitable small and mid-market retail, distribution and real estate companies. The group is led by Thomas Skidmore who was the former Chairman, President and Chief Executive Officer of Glentel, a multicarrier mobile phone retailer. In May 2015 BCE (Bell Canada) acquired publicly-traded Glentel for $594 million. Skidmore Development Group is a member of the Thomas Skidmore group of companies and is headquartered in Vancouver, BC (www.skidmore.com).
SouthPac Partners makes direct investment of $10 million to $50 million per transaction in companies with revenues of more than $20 million. Investment types include ownership transitions, management buyouts and buy-ins, growth capital, and select restructuring opportunities. The firm invests in a wide range of industries but has specific interest in consumer, services, multi-location operating businesses, financial services, technology and real estate. SouthPac is led by its managing partners Jeremy South and Chris Charlwood and is based in Vancouver, BC (www.southpacpartners.com).
© 2017 Private Equity Professional | September 14, 2017